Sun Hung Kai Properties (SHKP), Hong Kong’s largest property developer, received more than 21,000 cheques for 329 units at its massive Sierra Sea residential project in the New Territories, indicating that attractive pricing can drive home sales in the city despite economic jitters, according to agents. The first round of sales on Saturday will feature…
A local pharmacy has emerged as the newest tenant on Russell Street in Causeway Bay, filling the space previously leased by Italian luxury lingerie brand La Perla to take advantage of a 46 per cent slump in rents in one of Hong Kong’s costliest retail strips. Yu Shing, the pharmacy owner, is expected to pay…
Home prices in Hong Kong’s secondary property market dropped for a third straight month in February to near the lowest in a decade amid concerns about slower cuts in interest rates and heightened tensions in global trade stoked by extra US tariffs on foreign goods. Lived-in home prices retreated 0.9 per cent in February from…
How do you solve a 15-million-square-foot empty office space problem in Hong Kong, a size larger than all the space in existing prime office buildings in the city’s main business district in Central? This is the dilemma facing Hong Kong office landlords and asset managers, given the current vacancy rates and future supply of new…
Lee Shau Kee, founder of Henderson Land Development, passed away on March 17, 2025. Paul Yeung/Bloomberg Lee Shau Kee, the self-made billionaire who built one of Hong Kong’s largest property empires, died on Monday. He was 97. Lee’s company, Henderson Land Development, announced he passed away peacefully, surrounded by his family. Lee founded Henderson Land…
Hong Kong homebuyers flocked to secure new flats at two projects over the weekend, indicating improving sentiment on the city’s battered property market following a reduction in stamp duties and a buoyant stock market. On Sunday, Sun Hung Kai Properties sold 96 of 172 units offered at its Yoho West Parkside development in Tin Shui…
Hong Kong real-estate sales fell to their lowest point in five months in February, reflecting caution among homebuyers and investors amid increasing tensions between Washington and Beijing, according to property agencies. Sales of homes, office units, shops, car parking spaces and industrial spaces declined by 13 per cent to 4,295 deals from a month earlier,…
Hong Kong real-estate sales fell to their lowest point in five months in February, reflecting caution among homebuyers and investors amid increasing tensions between Washington and Beijing, according to property agencies. Sales of homes, office units, shops, car parking spaces and industrial spaces declined by 13 per cent to 4,295 deals from a month earlier,…
This story is part of Forbes’ coverage of Hong Kong’s Richest 2025. See the full list here. Hong Kong property and jewelry magnate Henry Cheng is in the eye of a perfect storm. Last June, his publicly traded property flagship, New World Development, reported an annual net loss of HK$19.7 billion ($2.5 billion), its highest…
Hong Kong office landlords are increasingly in a “defensive” position amid a supply glut that is driving tenants to upgrade to better and cheaper locations and facilities, according to analysts. “The flight to quality of existing tenants within Hong Kong is absolutely going to continue with all the new supply coming in the next three…